SMBC Home > News Release
Share Purchase of ACLEDA Bank Plc. in Cambodia(1/1)
August 18, 2014
Sumitomo Mitsui Banking Corporation
Share Purchase of ACLEDA Bank
Plc. in
Sumitomo Mitsui Banking
Corporation (gSMBCh, President: Takeshi Kunibe) has announced today that SMBC
intends to@acquire 12.25% of the shares of ACLEDA Bank
Plc. (gACLEDA Bankh, President & Group CEO: In Channy), the largest
Cambodian bank. In connection with this share purchase, SMBC obtained approval from
the National Bank of
In view of the expanding
Cambodian economy, SMBC signed a memorandum of understanding for a business
alliance with ACLEDA Bank in August 2012 and has been promoting business
cooperation since then. For example, in January 2014, SMBC started providing operational
support to ACLEDA Bankfs newly-created gForeign Corporate Unit,h a consultation
service department for ACLEDA Bankfs foreign corporate clients.
This share purchase by SMBC is
aimed to further enhance the existing collaborative relationship between the
two banks. SMBC continues to be committed to meet the various needs of customer
in Asia, including
1.
Overview of Share Purchase
(1) Number of shares: 27,628,111 shares (12.25% of total
issued shares)
(2) Timing of investment: Scheduled for September, 2014
2.
Overview of ACLEDA Bank Plc.
Established: 1993
Location
of head office: #61, Preah
Monivong Blvd., Sangkat Srah Chork, Khan Daun Penh @Phnom Penh,
Kingdom of Cambodia
Networks: 252
in
(as
of July 31, 2014)
Total assets: US$2,408
million (as of December 31, 2013)
Net income: US$81million
(as of December 31, 2013)
Listing: Not
listed
END